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On your post-graduation celebratory trip you decide to travel from Munich, Germany to Moscow, Russia. You...

On your post-graduation celebratory trip you decide to travel from Munich, Germany to Moscow, Russia. You leave Munich with 15,000 euros in your wallet. Wanting to exchange all of these for Russian rubles, you obtain the following quotes: Spot rate on the dollar/euro cross rate $1.3214/€ Spot rate on the ruble/dollar cross rate Rbl 30.96/$

a. What is the Russian ruble/euro cross rate?
b. How many rubles will you obtain for your euros?

show your work please

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Answer #1

Number of euros = 15000

dollar/euro cross rate $1.3214/€

ruble/dollar cross rate Rbl 30.96/$

a:

Hence ruble/euro cross rate = 1.3214*30.96 Rbl/ Euro

= Rbl 40.91/ Euro

B:

Number of rubles obtained = 15000 Euros * 40.91

= 613650 Rbl

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